The rapidly evolving world of regulatory compliance is making heavy demands on financial institutions. New compliance mandates are released at a rapid pace and often overwhelm corporations’ ability to respond. What is needed is a means of managing these requirements, structuring their complexity, unambiguously expressing their logic and facilitating rapid, audited and safe change to compliance systems. Business Decision Management is emerging as a best practice for making fact-based compliance decisions first class citizens in the thinking of all stakeholders. This is becoming particularly prevalent since the release of the OMG standard Decision Model and Notation® (DMN).
From time pressures thru data quality, regulatory enforcement presents eight specific challenges that corporations need to overcome. To create a proper compliance framework, companies must develop a deep understanding of how their architectural choices address these challenges. These choices build systems that respond to compliance issues through monitoring, deciding and responding to the data and conditions within and outside the corporation. Increasingly companies are recognizing the importance of the decision part of this. So corporations use Business Decision Management (BDM) to identify, catalogue, model and improve compliance decisions.
We are pleased to announce that Jan Purchase ( Director and Founding Partner, LuxMagi), a true expert in Regulatory Compliance, will join our BDM evangelist Tom Debevoise for a webcast on September 16. In this free webcast, they will highlight the challenges of implementing a financial compliance framework and how these can be addressed through the new and emerging field of Business Decision Management. They will detail the steps that a company can take to adopt these new techniques and describe the benefits of this approach with reference to concrete examples and projects.
Please register for the webcast here. We are looking forward to having you join us!